Doodles, among the most popular NFT projects, recently released its DOOD token. This announcement has moved the NFT market into overdrive! However, unlike most other tokens that followed, the token’s launch announcement detailed a distribution model created to extremely benefit the Doodles community. Whatever the motives, this news has resulted in a more than 900% increase in sales and trading volume of Doodles NFTs.
The DOOD token will also be making its premiere on the Solana blockchain. The token has a maximum total supply of 10 billion tokens. There are plans to work toward a Base integration in the future, furthering its use and reach.
The Doodles community will be in line to receive 68% of the total DOOD token supply. One third of this supply will be directly airdropped to Doodles NFT holders. Committing this allocation honors the current residents for their loyalty and investment in the community.
The new direction in Doodles NFT activity is clear when looking at the sales landscape as seen in the chart below. Doodles NFTs have hit $2.6 million in weekly sales. The Doodles NFT collection has similarly placed within the top five collections by volume. Weekly trading volume is up as much as 368% w-o-w, and 60% just in the last 24h.
In addition to the distribution to NFT holders, a tenth of the DOOD token supply is allocated to an ecosystem fund. These funds will help Doodles expand and develop the growing Doodles ecosystem. Further rounds are reserved for team bonuses, liquidity, and new entrants, called “New Blood.”
